Top 5 Brokers for Forex & Stocks in the GCC (Reviewed)

If you live in the GCC (UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, or Oman) and want to trade Forex or stocks, choosing the right broker is the first and most important step. With so many options available, it’s easy to get overwhelmed. The good news is that we’ve reviewed the top 5 brokers for traders in the GCC, highlighting their features, advantages, and drawbacks so you can make the best decision for your trading journey.

1. IG Markets – Best Overall for Forex & Stocks

IG Markets is one of the most established brokers in the world and a trusted choice for many traders in Dubai and across the GCC.

Why it stands out:

• Strong regulation (FCA, DFSA, ASIC).

• Access to over 17,000+ markets, including Forex, stocks, indices, and commodities.

• Powerful trading platforms (MT4, web platform, and mobile app).

• Educational resources perfect for both beginners and advanced traders.

Pros:

• Extremely reliable and secure.

• Tight spreads and low commissions.

• Great research tools and educational content.

Cons:

• Minimum deposit can be higher than local brokers.

• The platform may feel complex for complete beginners.

  
  

2. Saxo Bank – Best for Professionals & High-Net-Worth Traders

If you are looking for a premium trading experience in the UAE or Saudi Arabia, Saxo Bank is an excellent choice.

Why it stands out:

• Access to over 40,000 financial instruments worldwide.

• Highly advanced platforms (SaxoTraderGO and SaxoTraderPRO).

• Excellent for stock trading and long-term investors.

Pros:

• Deep market access for serious traders.

• Great reputation and strong regulation.

• Excellent research and analysis tools.

Cons:

• High minimum deposit requirements.

• Better suited for experienced or high-net-worth traders.

  
  

3. XM – Best for Beginners in Forex

XM is a popular broker among beginner traders in Dubai and the wider GCC thanks to its simple setup and low minimum deposit.

Why it stands out:

• Very low entry requirements (deposit as low as $5).

• Offers MT4 and MT5 platforms.

• Strong educational support with webinars, tutorials, and market analysis.

Pros:

• Beginner-friendly with easy account setup.

• Tight spreads and flexible lot sizes.

• Strong reputation and global presence.

Cons:

• Limited stock trading options compared to Saxo or IG.

• Not ideal for advanced professional traders.

  
  

4. AvaTrade – Best for Automated & Social Trading

AvaTrade is well-known for its AI trading bots and social trading integrations, making it attractive for traders who want automation.

Why it stands out:

• Access to 1,250+ markets, including Forex, stocks, indices, and crypto.

• Social trading through ZuluTrade and DupliTrade.

• Compatible with MT4, MT5, and AvaTradeGO app.

Pros:

• Strong focus on automation and copy trading.

• Easy to use and beginner-friendly.

• Offers Islamic accounts for GCC traders.

Cons:

• Fewer advanced research tools compared to IG.

• Limited stock market access compared to Saxo Bank.

  
  

5. eToro – Best for Social & Copy Trading

eToro is extremely popular worldwide and has gained traction in the GCC thanks to its copy trading features and beginner-friendly interface.

Why it stands out:

• Copy successful traders with just one click.

• Access to both Forex and global stocks.

• Clean and simple platform for beginners.

Pros:

• Excellent for social trading and beginners.

• Easy account setup with low minimum deposit.

• Access to Forex, stocks, ETFs, and crypto.

Cons:

• Higher spreads than some competitors.

• More suitable for casual and intermediate traders than professionals.

  
  

Final Thoughts: Choosing the Best Broker in the GCC

Your choice of broker should depend on your goals, trading style, and experience level:

• If you want the most reliable all-rounder, go with IG Markets.

• If you are a professional or wealthy investor, Saxo Bank is unmatched.

• For beginners, XM is the perfect low-cost entry point.

• If you prefer automation and AI bots, choose AvaTrade.

• If you love social and copy trading, eToro is the best fit.

No matter which broker you choose, always ensure:

• They are regulated (preferably by DFSA in Dubai, CMA in Saudi Arabia, or global regulators like FCA, ASIC, CySEC).

• You understand the fees, spreads, and trading conditions.

• You have a solid trading strategy and risk management plan.

With the right broker, you can confidently step into the world of Forex and stock trading in the GCC.